Mining, engineering and rail products provider Bradken Ltd (ASX:BKN) says it will pour $222 million into acquiring two companies.
The new acquisitions are expected to add $28 million to the company’s earnings in the following financial year and boost its market share in Australasia, North and South America and Africa.
Bradken has inked deals to buy Canadian company Norcast for $202 million and New South Wales-based Australian and Overseas Alloys for $20 million.
Bradken reported a net profit of $26 million in the second half of 2010.
